The UK’s competition watchdog agency claimed the drugmaker Concordia overcharged the NHS by millions for its hypothyroid medication liothyronine, also known as Cytomel, following price increases of almost 6,000 percent over a decade.
The Competition and Markets Authority found the NHS spent more than £34 million (US$45 million) on the tablets last year, an increase from around £600,000 (US$790,000) in 2006. The cost per pack increased from around £4.46 (US$6) before it went generic in 2007 to £258.19 (US$342) by last July.
Until earlier this year, Concordia was the only supplier. The CMA alleged the company abused its market position to raise prices while production costs remained largely stable.